Omnibus spending bill passes House along party lines.
Omnibus Appropriations Act of 2009 passed the House today 245-178 with 16 Republicans supporting this bill. This bill outlines roughly 410 Billion for the Federal government to operate and arguably is a necessity. Perhaps this bill would not have even showed up on the radar screen, but after spending about 800 Billion on spending projects that should have gone through appropriations this bill hurts.
While Obama declares war on the deficit one has to wonder just how much more they can spend with the following still going to happen:
- Auto industry asking for 20-30B
- Housing foreclosure prevention plan for 75B
- AIG asking for 60B more
- Additional Afghanistan troop deployment.
I wrote a piece a long time ago that can be found in the right panel about Obama's incoming inflation and frankly I still see the scenario playing out. After the taxation of the wealthy yields less than the projected amount and businesses continue to suffer our government will invariably print money and cause inflation - a tax on everyone through bracket creep.
It will be interesting to see if this Omnibus bill meets any kind of organized opposition from the Senate, because as of now somebody should seriously consider slashing large chunks of the federal government and saving this nation money. There has to be come correlation to the private industry and unfortunately the federal government operates in a world where raises come no matter what and reduction is as rare as honesty.
Imagine if you were running a small business and found yourself in the midst of a massive recession and mounting debt. What do you do? Continue to borrow more and give all your employees raises? No, you will probably slim down operations and regrettably lay people off. If only the federal government followed such protocol. One can dream.
While Obama declares war on the deficit one has to wonder just how much more they can spend with the following still going to happen:
- Auto industry asking for 20-30B
- Housing foreclosure prevention plan for 75B
- AIG asking for 60B more
- Additional Afghanistan troop deployment.
I wrote a piece a long time ago that can be found in the right panel about Obama's incoming inflation and frankly I still see the scenario playing out. After the taxation of the wealthy yields less than the projected amount and businesses continue to suffer our government will invariably print money and cause inflation - a tax on everyone through bracket creep.
It will be interesting to see if this Omnibus bill meets any kind of organized opposition from the Senate, because as of now somebody should seriously consider slashing large chunks of the federal government and saving this nation money. There has to be come correlation to the private industry and unfortunately the federal government operates in a world where raises come no matter what and reduction is as rare as honesty.
Imagine if you were running a small business and found yourself in the midst of a massive recession and mounting debt. What do you do? Continue to borrow more and give all your employees raises? No, you will probably slim down operations and regrettably lay people off. If only the federal government followed such protocol. One can dream.
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